NEW YORK (PRWEB)February 27, 2018
PIRS Capital, a leading fintech alternative lender specializing in Merchant Cash Advances, has announced today that it has secured financing in the form of revolving credit from an institution specializing in providing working capital to high growth companies.
“We are pleased to receive financing during this exciting time in the company’s growth,” said Mitchell Rubin, CFO of PIRS Capital.
With the NFIB Index of Small Business Optimism reaching record levels last year, PIRS Capital has found significant demand for its services. “In just five years since our launch, we’ve experienced tremendous success year-over-year,” said Andrew Mallinger, COO of PIRS Capital. “With this new round of capital, we now have the resources to further accelerate our growth and fund more small businesses across the U.S.”
Since 2013, PIRS Capital has doubled in size and in revenue and underwent a comprehensive rebrand last year. “We rebranded to focus on genuine relationships, which allows us to retain more customers and fund larger dollar amounts to more qualified customers,” said Mallinger. The rebrand included a new company logo, tagline and website.
2017 also marked the launch of the company’s powerful multi-variable credit model, PIRScore. Developed by an expert team of data analysts, PIRScore compliments a hands-on underwriting process to more accurately measure credit risk by taking advantage of best-in-class modeling practices and new machine learning techniques.
“Our team’s innovation, drive and dedication to our clients has been critical to our expansion and success,” said Mallinger. “We care about our clients and want them to succeed.”